RMDs from Money Purchase Plan
If you have a money purchase plan and an IRA, can you pull all the RMDs from just one or the other? Or do you have to pull the appropriate RMD from each separately?
If you have a money purchase plan and an IRA, can you pull all the RMDs from just one or the other? Or do you have to pull the appropriate RMD from each separately?
Permalink Submitted by Martin Helmer on Fri, 2008-10-17 21:35
Your latter statement is correct. Each type of plan must separately meet the RMD requirements.
If you are still working, not a highly compensated employee (which includes 5% or greater owners), and the written plan contains the verbiage, you can delay the distribution from the money purchase plan..
Permalink Submitted by Jeff Freburg on Sat, 2008-10-18 14:32
What if you are retired? Can you take the RMDs all from one, or do you have to take the RMDs from each?
Permalink Submitted by Jeff Freburg on Sat, 2008-10-18 14:33
Sorry, disregard my last post. I got it.
Permalink Submitted by Al Fry on Sat, 2008-10-18 19:20
It is still a good idea to check with the employer’s plan administrator to maker sure RMDs are not required at age 70 1/2 for working employees. I dont’t they are required to have that provision in place, even though most plans do. Al